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The Cost of Misconfidence
UK SMEs do not lack ambition. But too many lack the confidence to access the finance that could help them realise it. Small and medium-sized enterprises are the backbone of the UK economy. They account for more than 99% of UK businesses, employ around 17 million people, and generate over half of private sector turnover.
Our research suggests that UK SMEs are missing out on an estimated £54 billion in revenue because opportunities to expand, invest in technology, recruit and purchase equipment are being delayed or abandoned through a lack of external finance.
Understanding the confidence gap in SME borrowing
We commissioned top research agency Censuswide to survey 2,000 financial decision makers across a broad section of industries up and down the UK, exploring their attitude towards borrowing and external finance. We wanted to understand the wider economic impact of these missed opportunities, for the businesses themselves and country as a whole. The result is Portman Finance Group’s new report, The Cost of Misconfidence: Understanding the Confidence Gap in SME Borrowing.
Read The Full Report
Foreword – Alex Read – CEO
As someone who has founded and grown several businesses, I know that access to the right finance can be the difference between pursuing an opportunity and letting it pass.
This is not an argument that every business should borrow more. It is an argument for businesses to receive the right professional support so they can make informed decisions with confidence — confidence in the options available, the providers offering them and the outcomes that investment could deliver.
By closing that confidence gap, we can turn missed opportunities into investment, jobs and economic growth.
For enquiries or access to further data
Aspectus – PR & Media
Contact: Arthur Instone
Email: portmanfinancegroup@aspectusgroup.com
Tel: 07815 697 265
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